Quah, Danny (2002) Matching demand and supply in a weightless economy : market-driven creativity with and without IPRs. CEP discussion paper; CEPDP0534, 534. Centre for Economic Performance, London School of Economics and Political Science, London, UK.
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Many cultural products have the same nonrival nature as scientific knowledge. They therefore face identical difficulties in creation and dissemination. One traditional view says market failure is endemic: societies tolerate monopolistic inefficiency in intellectual property (IP) protection to incentivize the creation and distribution of intellectual assets. This paper examines that tradeoff in dynamic, representative agent general equilibrium, and characterizes socially efficient creativity. Markets for intellectual assets protected by IP rights can produce too much or too little innovation.
|Item Type:||Monograph (Discussion Paper)|
|Additional Information:||© 2002 Danny Quah|
|Library of Congress subject classification:||H Social Sciences > HB Economic Theory|
|Journal of Economic Literature Classification System:||D - Microeconomics > D9 - Intertemporal Choice and Growth > D90 - General
O - Economic Development, Technological Change, and Growth > O1 - Economic Development > O14 - Industrialization; Manufacturing and Service Industries; Choice of Technology
O - Economic Development, Technological Change, and Growth > O3 - Technological Change; Research and Development > O30 - General
|Sets:||Collections > Economists Online
Research centres and groups > Centre for Economic Performance (CEP)
Departments > Economics
|Date Deposited:||27 Apr 2007|
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